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Widow of 9/11 victim stresses the importance of wills

On behalf of Molsby & Bordner, LLP posted in estate planning on Tuesday, September 12, 2017.

A woman in another state is the widow of a 9/11 victim. At the time of the terrorist attacks in 2001, she had three young children and recently shared her memories and the many lessons she learned in the aftermath of the national tragedy. A lesson she remembers most has to do with estate planning and, in particular, wills. It applies just as much to California residents as it does to others across the country.

At the time of the attacks, the young mother's children were ages 2, 4 and 6. Her husband was working in Tower Two and was one of the victims that day. As the widow tried to put the pieces of her life back together in the wake of her husband's death, she faced tremendous challenges where finances were concerned, exacerbated by the fact that her husband had not executed a will.

A friend who happened to be a financial adviser helped the woman as time went on. She was able to develop a solid plan to protect her children's assets, such as funds set aside for college educations. As she looks back on that time, she says it's so important to take care of things like a will ahead of time because one just never knows when it will be needed.

Wills are certainly not the only type of document a California resident can include in an estate plan. A plan can be customized to suit individual needs and long-term planning goals. An estate planning attorney is well-versed in state and federal laws regarding such matters and can explain all options available, such as trusts, powers of attorney, advanced health care directives and more.

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